Victory Capital Management Inc. Acquires 8,200 Shares of NETSTREIT Corp. (NYSE:NTST)

Victory Capital Management Inc. lifted its stake in shares of NETSTREIT Corp. (NYSE:NTST) by 10.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,500 shares of the company’s stock after acquiring an additional 8,200 shares during the quarter. Victory Capital Management Inc. owned approximately 0.11% of NETSTREIT worth $1,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NTST. Quarry LP bought a new position in NETSTREIT in the 2nd quarter worth approximately $45,000. Point72 DIFC Ltd bought a new position in shares of NETSTREIT during the second quarter worth $83,000. Custom Index Systems LLC purchased a new position in NETSTREIT during the third quarter valued at $170,000. M&G PLC bought a new stake in NETSTREIT in the 3rd quarter valued at $173,000. Finally, Van ECK Associates Corp lifted its stake in NETSTREIT by 13.7% in the 2nd quarter. Van ECK Associates Corp now owns 11,280 shares of the company’s stock worth $182,000 after purchasing an additional 1,359 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NTST shares. UBS Group began coverage on NETSTREIT in a report on Monday, October 14th. They set a “buy” rating and a $19.00 price objective on the stock. Stifel Nicolaus dropped their price objective on shares of NETSTREIT from $19.50 to $19.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Wedbush began coverage on shares of NETSTREIT in a report on Monday, August 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Scotiabank raised shares of NETSTREIT from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $16.00 to $18.00 in a report on Monday, November 11th. Finally, Raymond James raised NETSTREIT from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $20.00 to $19.00 in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.23.

NETSTREIT Trading Up 1.0 %

NYSE:NTST opened at $16.29 on Tuesday. The firm has a 50-day simple moving average of $15.99 and a 200-day simple moving average of $16.49. NETSTREIT Corp. has a one year low of $15.02 and a one year high of $18.97. The firm has a market cap of $1.33 billion, a P/E ratio of -271.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.11 and a current ratio of 4.11.

NETSTREIT (NYSE:NTST) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.37). NETSTREIT had a negative return on equity of 0.35% and a negative net margin of 2.96%. The company had revenue of $41.44 million during the quarter, compared to the consensus estimate of $41.10 million. During the same period in the previous year, the firm posted $0.31 earnings per share. Equities analysts anticipate that NETSTREIT Corp. will post 1.19 EPS for the current fiscal year.

NETSTREIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 5.16%. NETSTREIT’s dividend payout ratio is presently -1,399.77%.

NETSTREIT Company Profile

NETSTREIT Corp. is an internally managed real estate investment trust (REIT) based in Dallas, Texas that specializes in acquiring single-tenant net lease retail properties nationwide. The growing portfolio consists of high-quality properties leased to e-commerce resistant tenants with healthy balance sheets.